CME Group’s over-the-counter (OTC) credit default swap (CDS) clearing service will use DataVision to support the pricing and intra-day risk management services in the clearing and settlement of CDS trades.
DataVision is a database of independently sourced CDS pricing information. CMA provides market makers and investors intra-day pricing, liquidity metrics and analytics on over 1,500 single name CDS, CDS indices and index tranches.
DataVision is based on prices observed by major credit derivatives trading desks ensuring CMA provides the accurate and comprehensive set of market price data. CMA’s data is used by global banks, hedge funds, asset managers, government agencies, auditors and fund administrators for mark-to-market, portfolio valuations, risk management and research.
Anna Mazzone, head of product management and marketing of CMA, said: “We are delighted to have been able to assist the CME Group in the development of their CDS clearing platform. DataVision is widely recognised among swap market participants as one of the most accurate and reliable sources of CDS pricing information. Its adoption by the CME Group in their clearing platform is a strong endorsement of our unique consensus-based CDS pricing model.”
CMA, a provider of credit information services, is a wholly owned subsidiary of CME Group, a diverse derivatives exchange.